Dow Jones dips 11 points as Wall Street starts new week
NEW YORK, New York — U.S. stock markets were listless on Monday with the major indices trading flat most of the day. Rising U.S. Treasury yields dampened enthusiasm. "The theme of bad news being good for the equity market continues," Matt Rowe, head of portfolio management at Nomura Capital Management told CNBC Monday. "Much of the equity strength is driven off of hope for an implied cut, or a series of rate cuts this year, that won’t take down the cost of capital and present value of everything." Here are Monday’s closing figures for key indexes: S&P 500 (^GSPC): The S&P 500 index closed at 5,202.39 Monday, down by 1.95 points, or 0.04 percent. Dow Jones Industrial Average (^DJI): The Dow Jones Industrial Average ended the day at 38,892.80, dropping by 11.24 points, or 0.03 percent. NASDAQ Composite (^IXIC): The NASDAQ Composite index finished at 16,253.96, showing a slight increase of 5.43 points, or 0.03 percent. The trading session witnessed a mix of movements across major indices. While the S&P 500 and Dow Jones experienced slight declines, the NASDAQ Composite managed to eke out modest gains. Market analysts attributed the mixed performance to a variety of factors, including higher Treasury yields, uncertainty surrounding interest rates, and corporate earnings reports. Investors remained cautious amid geopolitical concerns, including tensions between Russia and Ukraine, as well as escalating geopolitical tensions in the Middle East. Additionally, uncertainty surrounding monetary policy decisions and their potential impact on inflation and economic growth continued to influence market sentiment. Looking ahead, market participants are closely monitoring developments in geopolitical landscapes, economic indicators, and corporate earnings reports for further insights into market direction and investor sentiment. Global Forex Market: Modest Moves in Major Currency Pairs Monday On Monday, the world foreign exchange market saw modest movements in major currency pairs. Here are the latest quotes: Euro / US dollar (EUR/USD): The e.u.ro gained ground against the US dollar, with the exchange rate steadying 1.0856, reflecting an increase of 0.19 percent. US dollar / Japanese yen (USD/JPY): The Japanese yen, with the exchange rate at 151.83, was down by 0.15 percent. US dollar / Canadian dollar (USD/CAD): The Canadian dollar advanced to 1.3577, ahead by 0.08 percent. British pound / US dollar (GBP/USD): The British pound edged higher Monday with the exchange rate reaching 1.2655, marking an increase of 0.15 percent. US dollar / Swiss franc (USD/CHF): The Swiss franc on the other hand slipped to 0.9052, down by 0.42 percent. Australian dollar / US dollar (AUD/USD): The Australian dollar strengthened against the U.S. dollar, with the exchange rate at 0.6603, reflecting a gain of 0.42 percent. New Zealand dollar / US dollar (NZD/USD): The New Zealand dollar also saw gains, rising to 0.6032, up by 0.37 percent. Overall, the forex market experienced subtle movements, with several currencies showing modest shifts against the U.S. dollar. Despite ongoing uncertainties in global markets, the forex landscape remained relatively stable with no significant fluctuations observed during Monday’s trading session. Global Stock Markets Close with Modest Gains Monday Except for Shanghai and Shenzhen On Monday, major stock indices around the world closed with modest gains, except for China’s Shanghai and Shenzhen markets, and New Zealand, which experienced slight declines. Here are the closing figures for key indices: CANADA S&P/TSX Composite index (^GSPTSE): Canada’s S&P/TSX Composite index closed at 22,260.30, decreasing by 4.08 points, or 0.02 percent. UNITED KINGDOM FTSE 100 (^FTSE): The FTSE 100 in London closed at 7,943.47, up by 32.31 points, or 0.41 percent. EUROPE DAX PERFORMANCE-INDEX (^GDAXI): The German DAX PERFORMANCE-INDEX ended the day at 18,318.97, marking an increase of 143.93 points, or 0.79 percent. CAC 40 (^FCHI): France’s CAC 40 closed at 8,119.30 Monday, up by 57.99 points, or 0.72 percent. ESTX 50 PR.EUR (^STOXX50E): The ESTX 50 PR.EUR index closed at 5,046.05, up by 31.30 points, or 0.62 percent. Euronext 100 Index (^N100): The Euronext 100 Index ended the day at 1,530.97, gaining 10.87 points, or 0.72 percent. BEL 20 (^BFX): Belgium’s BEL 20 closed at 3,849.87, up by 15.54 points, or 0.41 percent. ASIA Nikkei 225 (^N225): The Nikkei 225 index in Japan finished at 39,347.04, climbing by 354.96 points, or 0.91 percent. HANG SENG INDEX (^HSI): Hong Kong’s HANG SENG INDEX closed at 16,732.85 Monday, gaining 8.93 points, or 0.05 percent. SSE Composite Index (000001.SS): In China, the SSE Composite Index experienced a slight decline, closing at 3,047.05, down by 22.24 points, or 0.72 percent. Shenzhen Index (399001.SZ): The Shenzhen Index also saw a decrease, closing at 9,394.61, down by 150.16 points, or 1.57 percent. STI Index (^STI): Singapore’s STI Index experienced a slight decline, closing at 3,215.99, down by 2.27 points, or 0.07 percent. S&P BSE SENSEX (^BSESN): In India, the S&P BSE SENSEX closed at 74,742.50, up by 494.28 points, or 0.67 percent. NIFTY 50 (^NSEI): India’s NIFTY 50 closed at 22,666.30 Monday, up by 152.60 points, or 0.68 percent. IDX COMPOSITE (^JKSE): In Indonesia, the IDX COMPOSITE closed at 7,286.88, up by 32.48 points, or 0.45 percent. FTSE Bursa Malaysia KLCI (^KLSE): Malaysia’s FTSE Bursa Malaysia KLCI closed at 1,559.98, up by 4.73 points, or 0.30 percent. KOSPI Composite Index (^KS11): In South Korea, the KOSPI Composite Index closed at 2,717.65, up by 3.44 points, or 0.13 percent. TSEC weighted index (^TWII): Taiwan’s TSEC weighted index ended the day at 20,417.70, up by 80.10 points, or 0.39 percent. OCEANIA S&P/ASX 200 (^AXJO): In Australia, the S&P/ASX 200 ended the day at 7,789.10 Monday, up by 15.80 points, or 0.20 percent. ALL ORDINARIES (^AORD): Australia’s ALL ORDINARIES index ended the day at 8,044.90, up by 18.90 points, or 0.24 percent. S&P/NZX 50 INDEX GROSS (^NZ50): In New Zealand, the S&P/NZX 50 INDEX GROSS saw a slight decline, closing at 11,973.59, down by 38.65 points, or 0.32 percent. AFRICA Top 40 USD Net TRI Index (^JN0U.JO): This index in Johannesburg, South Africa, closed at 3,989.03, marking an increase of 36.53 points, or 0.92 percent. MIDDLE EAST TA-125 (^TA125.TA): Israel’s TA-125 index closed at 2,025.73 Monday, up by 26.11 points, or 1.31 percent. EGX 30 Price Return Index (^CASE30): In Egypt, the EGX 30 Price Return Index closed at 28,503.80, gaining 352.10 points, or 1.25 percent. Overall, the global markets showed resilience with most indices posting gains Monday, reflecting positive sentiment among investors. However, concerns linger over the slight declines witnessed in the Chinese markets amidst ongoing economic uncertainties there.